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Angola records 12% growth in diamond sales

Mr.Jânio Correia Victor,
Secretary of State for Mineral Resources Govt. of Angola
Luanda - Angola sold, in 2023, around 9,396,000 carats of rough diamonds, corresponding to a gross value of around 1.5 billion dollars, representing a 12% increase, compared to the previous year.

The information was provided, in Luanda, by the Secretary of State for Mineral Resources, Jânio Correia Victor, noting that approximately 9,396,000 carats of rough diamonds were sold at an average price of US$163 per carat.

When speaking at the ceremony to take stock of the achievements of the production, commercialization and export of diamonds for the year 2023, the official said that, of the total production, the Catoca mining society was the one that contributed most to production, being, in the period under analysis, with around 71% of production.

The Secretary of State says that total production in 2023 represents a decrease of around 21%, compared to the established forecast.

“It is justified by several factors, with emphasis on the optimization and conditioning services of the Luele society mining treatment center and the restructuring of some mining projects”, he said.

Diamond exports totaled around 9.91 million carats, representing an increase of almost 12%, compared to 2022, with gross revenue from exports being 1.56 billion dollars, showing a decrease of approximately 20%, compared to 2022.

He explained that the reduction is justified by the reduction in market prices, compared to the previous year.

He pointed out that the main destinations for diamond exports were the United Arab Emirates, with 72%, and Belgium, with 26%.

As for the prospects, he said that the intention is to exceed 10 million carats of rough diamonds “and we hope, with this, to break the barrier of 10 and we expect to continue to rise”.